[Gauntlet] Weekly Market Update - (2024-02-02 through 2024-02-08)
Gauntlet would like to provide the community with an update on this market over the previous week. Gauntlet is continuing to monitor this market. At this time, we do not recommend any parameter updates, but will keep the community informed.
Summary
Note:
- Gauntlet has decided to withhold its recommendation to increase the supply cap for LINK considering its liquidity limit on DEX.
This table gives high-level statistics over the time frame in question. Bold lines correspond to weekly average supply cap usage over 75%.
| Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | Current DEX 25% Slippage (USD) |
|---|---|---|---|---|---|---|
| USDC | 120.00M | 128.00M | 46.63% | 49.79% | 87.80% | $21.87M |
| USDT | 35.00M | 50.00M | 55.07% | 42.83% | 90.00% | $14.36M |
| DAI | 30.00M | 50.00M | 21.89% | 15.56% | 84.43% | $8.32M |
| USDC.e | 24.00M | 26.00M | 66.27% | 67.85% | 90.16% | $44.28M |
| ARB | 16.50M | 40.00M | 9.11% | 61.87% | 6.07% | $30.65M |
| FRAX | 5.50M | 7.00M | 2.94% | 2.75% | 83.97% | $7.92M |
| LUSD | 1.80M | 2.20M | 41.15% | 43.59% | 77.25% | $399.12K |
| LINK | 484.49K | 1.80M | 25.84% | 84.99% | 8.18% | $6.69M |
| WETH | 40.00K | 70.00K | 72.44% | 65.24% | 63.45% | $38.61M |
| wstETH | 2.40K | 60.00K | 17.17% | 64.24% | 1.07% | $9.70M |
| rETH | 1.36K | 5.10K | 3.23% | 47.08% | 1.83% | $10.45M |
| WBTC | 1.11K | 4.20K | 9.54% | 44.59% | 5.68% | $28.40M |
Key Interest Rates Trend
This week’s USDC variable borrow rates trend support the rationale of keeping current Slope1 parameters.
Top Movers
- wstETH’s borrow balance increased WoW by 51% from $989K to $1M.
- EURS’s borrow balance decreased WoW by -29% from $39K to $28K.
- ARB’s supply balance increased WoW by 16% from $41M to $47M.
- LUSD’s supply balance decreased WoW by -12% from $1M to $899K.
- wstETH’s utilization increased WoW by 43% from 1% to 1%.
- EURS’s utilization decreased WoW by -28% from 78% to 56%.
Liquidations
| Liquidated Asset | Liquidated Amount (Tokens) | Liquidated Amount (USD) |
|---|---|---|
| LINK | 2.12K | $38.34K |
| USDC | 20.93K | $20.93K |
| WETH | 1.97 | $4.55K |
| ARB | 1.35K | $2.43K |
| WBTC | 0.01 | $537.04 |
| WSTETH | 0.14 | $368.22 |
Weekly Annualized Reserve and Interest Projections
Supply Cap Usage Trend
This graph shows the supply cap usage (supply / supply cap) of all assets over the time frame in question.
Borrow Cap Usage Trend
This graph shows the borrow cap usage (borrow / borrow cap) of all assets over the time frame in question.
